There are many legal aspects associated with closing an estate. Many New York residents likely know that probate is the process that finalizes a deceased person's affairs, but a number of individuals also think the process is one that should be avoided at all costs. However, probate does not have to be viewed in that light, and estate planning can help individuals determine whether using the process could suit their desires.
Many people find it lucrative to invest in commercial real estate. Even individuals from outside the United States often have an interest in investing in property inside the country, including in New York. Of course, a foreign investor faces challenges that differ from those who are investing domestically.
You may be like many who fear that your family will dissolve into bickering and perhaps even litigation over your estate when you pass away. Perhaps you know families where this has happened, and you vowed you would take whatever steps necessary to avoid disputes among your loved ones. One important step is creating an estate plan, but even that can't guarantee there will be no disputes.
After the passing of a family member, it is common for tensions to run high. Surviving loved ones are often in emotional states, and a simple issue could easily turn into a significant one. In particular, New York families may face difficulties if will contests come about during the probate proceedings for their deceased loved ones' estates.
Making any type of step in real estate can be intimidating. When individuals need to purchase commercial property, they face a major undertaking. Fortunately, New York residents looking to make such a move do not have to enter into the process feeling lost.
Many people expect or even rely on an inheritance from a deceased loved one. Some may have these expectations for sentimental reasons or because they are facing financial struggles and are glad that a loved one can help from beyond the grave. However, probate litigation can often have a major impact on the inheritances that many New York residents think they are going to obtain.